Official Opening of Nexans Tianjin Magnet Wires and Cables Co., Ltd.
Nexans Tianjin Magnet Wires and Cables Co., Ltd. is the first joint venture in China producing CTC. The company was established by Nexans , a French company and Tianjin Electromagnetic Wires Factory, a domestic large scale magnet wires producer. With a total investment of 28 million US dollars, Nexans Tianjin JV employs 160 employees in its 20,000m2 modern plant. The combination of technologies, capital and talents from both sides will be its biggest advantages in exploring the Chinese and Asia-Pacific markets. The joint venture has already supplied products to international leading transformer producers in China including ABB, Siemens and Toshiba.
With this new Chinese subsidiary, just after the takeover of Daesung Cable in Korea, Nexans has strengthened considerably its development strategy in the Asian market and has therefore doubled its presence in Asian power, telecom and wires markets. This agreement also gives Nexans the possibility to make substantial savings in transport costs and improving its competitiveness in this region.
The Chinese market is of significant strategic importance to Nexans as highlighted by the many senior officers and representatives from Nexans that attended the grand opening. These representatives included: Mr. Gérard Hauser, Chairman and CEO of Nexans, Mr. Michel Lemaire, President of Nexans Electrical Wires Division and Mr. Dominik Declercq, President of Nexans China. In addition to the Nexans representatives, officials of the Tianjin Municipal Government also came to the site to congratulate and welcome Nexans arrival in Tianjin and to bless the further development of the joint venture.
Note to Editors
During the 10th five-year plan period, the Chinese economy is expected to continue growing at a rapid race. As one of the two biggest pillar industries in China, the power industry will keep pace with the overall economic development. In the following 5 years, there will be large-scale power gridconstruction in China which includes several elements; the urban and rural power grid revamp, the interconnection of regional power grids, the power transmission from west to east areas and last but not least the three-gorges project.
All these power transmission projects will rely on the latest technology to resolve issues such as HV transmission, long haul transmission, safety and environmental protection. As one of the leading cable producers in the world, Nexans intends to support China?s power construction and cable industry. The opening of the joint venture in Tianjin just after Nexans? creation is the latest proof of this commitment. Its key product, CTC (continously transposed cable) is a critical element in a power transformer, which significantly increases transformer efficiency compared with normal magnet wires. The application of CTC in large transformers of HV level has become a symbol of quality.